890 S Magnolia Avenue

Property Overview

Excellent development opportunity. The HDR-45 zoning allows development of 45 units per acre. The property is approximately 69,000 SF which would allow development of up to 71 apartments or condominiums. This is the last parcel(s) of high-density residential land on S. Magnolia and is adjacent to a 75-unit apartment building developed in 2019. Includes parcel #'s 1011-371-16-0000 and 1011-371-15-0000.The property has been entitled for 49 apartment units; however, a buyer may pursue new entitlements for 71 units. The property is currently improved with a 2-bedroom, 2 bath single family residence that was built in 1926. The property has been priced based upon land value and the single-family residence does not contribute value to the property. The single-family home is currently rented month to month for $2,300/mo. The excess land is currently rented month to month for $275/mo. to a nursery, and the nursery tenant maintains the excess land. Please submit all offers using the CAR Residential Purchase Agreement. Buyer to cooperate with Seller's exchange. Drive by Only, Do Not Disturb the tenants. Asking price is $2,650,000 which is $37,324/Unit based upon 71 units and $38.40/‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌ SF.

Home Details

Property type: Land
Lot size: 1.58 acres
Days on market: 0
MLS status: Active
Zoning: HDR-45

Features & Amenities

Lot

Level

Community, Schools & Utilities

Community

Subdivision: Other
View: Mountains

Utilities

Water: Public

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Location & Neighborhood

Ontario, CA 91762

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Frequently Asked Questions About 890 S Magnolia Avenue

Property type: Land

The current asking price is $2,650,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.

Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 890 S Magnolia Avenue. Our team will confirm availability and timing.

This property offers the living space reported in the listing. Review the listing details and disclosures, then independently verify material features before making a decision.

The property is in Ontario, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.

Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Ontario property.

The MLS currently reports the property as Active. It has been listed for 0 days. Status can change, so verify availability before relying on it.